PROPOSAL FORM - Iraan-Sheffield ISDisisd.net/Administration/Business/2017-2019_Dep/20170208... · Web viewPROPOSAL FORM FOR DEPOSITORY SERVICES BY IRAAN-SHEFFIELD INDEPENDENT SCHOOL

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PROPOSAL FORMFOR

DEPOSITORY SERVICES BYIRAAN-SHEFFIELD INDEPENDENT SCHOOL DISTRICT

This proposal is due to Michael Meek, Business Manager, Iraan-Sheffield ISD, PO Box 486, Iraan, TX 79744 by 11:00 am, on Friday, March 24, 2017.

All questions in this form should be answered and provided to the District as the Depository’s proposal.

The District reserves the right to reject any and/or all proposals and if any portion or provision of this proposal and/or any contract between Depository and District entered into is invalid, the remainder at the option of the District shall remain in full force and effect and not be affected.

BANK COMPENSATIONDoes the District have the option to pay for Depository services by targeted balances or by fees?

_____ Targeted Balances

_____ Fees

_____ Other (Explain) __________________________________________________

_______________________________________________________________

_______________________________________________________________

Please describe any differences in related costs to the District with either option.

If the District chooses one option for the life of the contract, is there a difference in service fees?

Target Balance Compensation Basis:The District may choose to pay for Depository services on a compensating balance basis, maintaining a targeted amount of its funds in the Depository. The District will maintain balances in the checking accounts to compensate the Depository in full or in part for services provided. Earnings credit for these balances shall be reflected on the monthly account analysis provided to the District.

PROPOSAL FOR DEPOSITORY SERVICES FOR IRAAN-SHEFFIELD ISD Page 2 of 31

Any excess collected balance may be invested daily by the Bank as directed by the District, in a District approved overnight investment, an interest bearing account, or an SEC registered money market mutual fund. The overnight investment and any index upon which the rate will be based should be listed below.

The monthly average at the Depository for November, 2010 was:

ECR Rate: __________%Interest Bearing Accounts: __________%Money Market Accounts: __________%Sweep Accounts: __________%

The monthly average at the Depository for December, 2010 was:


The monthly average at the Depository for January, 2011 was:


Stipulate the index calculation basis for each of the above in the space below (such as the T-Bill auction rate). Unless the submitter proposes all services shall be at no cost, do not skip this section or answer with such terms as "confidential internal calculation" or any other answer which does not allow comparison with other proposers.

How is:

ERC Rated Calculated?

Interest on Interest Bearing Accounts Calculated?

Interest on Money Market Accounts calculated?

Interest on Sweep Accounts Calculated

Fee Basis Compensation:The District may choose to pay for Depository services on a straight fee basis in which no targeted balance will be maintained by the District. Fees will be assessed and paid in accordance with the Depository’s proposed fees as listed on Attachment A.


DISTRICT INVESTMENTSThe District reserves the right to purchase, sell and invest its funds and funds under its control, including bond funds, as authorized by the Government Code, Chapter 2256, Public Funds Investment Act, and in compliance with the District’s Investment Policy, a copy of which is attached as Attachment C and can also be accessed from the District web site at:http://www.tasb.org/policy/pol/private/186903/pol.cfm?DisplayPage=CDA(LEGAL).pdfhttp://www.tasb.org/policy/pol/private/186903/pol.cfm?DisplayPage=CDA(LOCAL).pdf

The District may choose to invest in time deposits at the Depository. The Depository will pay interest on funds of the District placed in time deposits with maturities chosen by the District. The interest rate spread on such deposits should be indicated as above, below or equal to the "asked" yield on the comparable maturity T-Bill of the proposed time deposit being purchased as reported in an independent, financial source.

(A) WHEN THE FED FUNDS RATE (anytime within four days before a CD is purchaseD) IS Three-PERCENT OR LESS (0% to <3%) the depository proposes to pay the following interest on time deposits purchased:

Single Maturity Time Deposits of more than $100,000:

MATURITY of Investment Basis point spread over (+)/under (-) T-Bill "asked" yield

7 -- 29 Days _________________________________30 -- 59 Days _________________________________60 -- 89 Days _________________________________90 -- 179 Days _________________________________180 -- 364 Days _________________________________365 Days or More _________________________________

(B) WHEN THE FED FUNDS RATE (anytime within four days before a CD is purchaseD) IS Three-PERCENT or greater (3% or >) the depository proposes to pay the following interest on time deposits purchased:

Single Maturity Time Deposits of more than $100,000:

MATURITY of Investment Basis point spread over (+)/under (-) T-Bill "asked" yield

7 -- 29 Days _________________________________30 -- 59 Days _________________________________60 -- 89 Days _________________________________90 -- 179 Days _________________________________180 -- 364 Days _________________________________365 Days or More _________________________________


COLLATERALIZATIONThe Depository must provide either corporate surety bonds or pledged securities as per Texas Education Code §45.201. Please specify below which method the Depository will use for collateralization of District funds.

_______ Collateral (Check if this will be an option)

Pledged Securities: The Board of Trustees may accept a deposit of approved securities. Approved securities are categorized and also restricted to those defined in Section 45.201(4) of the Texas Education Code and as provided for in the Government Code, Chapter 2257, Collateral for Public Funds. Please note that Section 2257.022(b) states that the total value of eligible security described by Section 45.201(4) (D), Education Code, must be in an amount not less than 110 percent of the amount of the deposit as determined under 2257.022(a). The amount pledged shall be in a total market value sufficient to adequately protect the funds of the District as directed at anytime by the Board of Trustees of the District in accordance with standards acceptable to the Texas Education Agency. All funds, less applicable Federal Deposit Insurance and any surety bond coverage, must be secured by the end of the banking day on which the funds were credited. The depository is required to file with the district safekeeping or trust receipts for each security pledged against the district’s funds. Such receipts must show the school district as pledgee and must clearly indicate the third party holder of the security, the name of the depository, the receipt number, description, maturity date, par value or market value of the security if it reduces in principal.

_____ Surety Bond acceptable to the Texas Education Agency and to the District.(Check if this will be an option)

Surety Bond: Section 45.208(a) states, “the bank or banks selected as school depository or depositories and the school district shall enter into a depository contract or contracts, bond or bonds, or other necessary instruments setting forth the duties and agreements pertaining to the depository, in a form and with the content prescribed by the State Board of Education.” Also, in accordance with Section 45.208(b), “the depository bank shall attach to the contract and file with the school district a bond in an initial amount equal to the estimated highest daily balance, determined by the board of trustees of the district, of all deposits that the school district will have in the depository during the term of the contract, less any applicable Federal Deposit Insurance Corporation insurance. The bond must be payable to the school district and must be signed by the depository bank and by some surety company authorized to do business in this state.” The school district must submit a completed and signed Texas School Depository Surety Bond Form to this Agency if the district elects to use a surety bond to secure its deposits. A copy of the depository contract and bond shall be filed with the agency, in accordance with Section 45.208(e) of the Code.

The estimated highest amount of bond needed is currently expected to be $4,000,000.

Collateral Conditions:The Depository shall provide collateral equal to 102% of all District time and demand deposits plus accrued interest minus applicable FDIC coverage. Collateral will be pledged to the district and held in an independent safekeeping institution by a custodian or permitted institution as specified by the Public Funds Collateral Act (Texas Government Code, Chapter 2257).

The Depository will be liable for monitoring and maintaining the collateral and the required margin at all times and will provide original safekeeping notice and a monthly report of the collateral to include the security description, par amount, cusip, and market value, at a minimum.

The Depository and District shall execute a collateral agreement in accordance with FIRREA. A sample Collateral Agreement should be attached as Attachment D.

The District estimates its maximum anticipated collateral requirement to be $4,000,000 which when covered at 110% results in potential collateralization requirements of: $4,000,000 x 1.10 = $4,400,000.

Note: If voluntary collateral pooling is legislated during the period of this contract, the District may consider and agree to its use under this contract with mutual agreement of the Depository.


Will the proposed depository be able to provide acceptable collateral (as defined as acceptable investments within the District's investment policy) in the amount specified above necessary to cover 110% of potential deposits.

__________ YES

__________ NO

__________ Other amount proposed $___________________________

Explain below if not "Yes" above:

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

__________________________________________________________________________________

Eligible CollateralThe District will accept only approved securities as specified by Texas Education Code §45.201 as pledged collateral and which is also specified as allowable investments in accordance with the Iraan-Sheffield ISD's Investment Policy as Attachment C.

BANKING SERVICES FEESBased on the Depository services required by the District, the Depository shall complete the proposed fee schedule, Attachment A.


DEPOSITORY INFORMATION Please answer the following questions concerning the Depository.

1. State full name and address of the Depository and any parent holding company. List all branch locations within the District’s boundary.

Full name of depository _________________________________________________________

Parent holding company if different than above ______________________________________

Depository website _____________________________________________________________

Location A: Primary Location

Street Address ___________________________City ___________, Texas, Zip __________

Location Phone _________________________Fax_________________________________

Location Hours: ____________________________________________________________

Contact Person (May or may not work at location) ________________________________

Contact Phone: Direct ____________________Cell ________________ Home __________

email of Contact____________________________________________________________

Location B: Branch Location (if applicable)

Street Address ___________________________City ___________, Texas, Zip __________

Location Phone _________________________Fax_________________________________

Location Hours: _____________________________________________________________

Contact Person (May or may not work at location) _________________________________

Contact Phone: Direct ____________________Cell ________________ Home __________

email of Contact____________________________________________________________

Use additional sheets of paper and attach for other branch locations.

2. Provide the UPBR reference or annual audited financial statement for the most current fiscal year. This may be in printed form, but an electronic link to the web site(s) is preferable.

The electronic link is: __________________________________________________________

OR (Check if no link above) _____________ Printed annual financial statements are attached.

Members of Depository holding companies must include corporate annual financial statements and the individual Depository's call report for the most recent operating quarter.


What were total estimated deposits at JAN-1-2011: $_______________________________3. State the Depository’s rating from an independent Depository rating agency or, if not available,

the rating on the Depository’s senior and subordinate debt. Any change in this rating during the period of the contract must be communicated to the District in a reasonable period of time.

Rating:________________________________________________________________________

Rated by:______________________________________________________________________

4. Contact InformationTo insure smooth contract implementation and continuation of services, a specific account executive and a back-up must be assigned to the District account to coordinate services and expedite the solution of any problem encountered.

a. Designate a Depository officer as a primary contact with the District.

Name_________________________________________

Title __________________________________________

Direct Telephone # ______________________________

Cell Telephone # ________________________________

Home Telephone # ______________________________

Fax # __________________________________________

E-Mail _________________________________________

b. Designate a Depository representative as a backup contact with the District.

Name_________________________________________

Title __________________________________________


Cell Telephone # ________________________________

Home Telephone # ______________________________

Fax # __________________________________________

E-Mail _________________________________________

c. In the event the primary and backup contacts aren’t available, what is the District’s procedure for an emergency contact?


After hours?

d. Describe in detail how the Depository handles problem resolution, customer service, day-to-day contact, and ongoing maintenance for governmental clients. Please be specific about exactly whom the District will be calling and working with for the above described situations:

5. Please list references from at least three of the Depository’s current, comparable governmental clients. Include the length of time under contract, a client contact, title, and telephone number.

___________ Check if applicable:No reference required since the proposed depository is the current depository for Iraan-Sheffield ISD and is doing business with same name used when vendor was depository, but District may contact any business or government depositor for reference if desired by District.

Reference 1:

Reference 2:

Reference 3:

6. Based on the services required by the District, please provide a proposed timeline for implementation of the contract including the timeline activities and direct responsibilities of the District and the Depository during implementation. Realistically, because of collateral requirements, the latest the District could start working on any changeover would be August 1, 2011 .


7. Provide a copy of all agreements (including those not directly referenced in this RFP) which will be required to be executed under the contract. DO NOT PLAN ON SUBMITTING additional documents to be signed which counteract this agreement after the Board has approved a proposal.

8. The Depository awarded the contract will be required to review the then-current District Investment Policy and certify in writing to that review in accordance with the Public Funds Investment Act certifying that the Depository has sufficient controls in place to avoid transactions not authorized by the Policy. The District has attached its investment policy to this RFP notice and has provided a link to the investment policy on the District’s web site.

9. A pre-award interview may be conducted on site at the Depository prior to contract award. Please provide the District with a contact name for arranging the pre-award interview.

Name_________________________________________

Title __________________________________________


Cell Telephone # ________________________________

Fax # __________________________________________

E-Mail _________________________________________

10. Is the Depository offering any transition or retention incentive to the District? If so, please describe in detail.


BANKING SERVICES1. Consolidated Account Structure with Sweep Mechanism The District is interested in earning at then-current interest rates available at all times. The District wants the option to use an automated, daily sweep to a money market mutual fund or Depository alternative account (if competitive) to reach its full investment goal. A repurchase agreement is not acceptable as a sweep investment vehicle.

The District’s current account structure is listed as Attachment B. The District does not guarantee that the balances will be maintained at these same levels.

The Depository shall clearly describe the Depository's most cost effective account structure (interest bearing accounts, ZBA accounts, or sweep, etc.).

a. Fully describe the proposed account structure. Would a sweep be from a master account with ZBAs or directly swept from the individual accounts. Is interest distributed at the account level?

b. State the average interest rate on the recommended alternative structure for the past twelve months.

c. If an SEC registered money market fund is utilized for the sweep proposal, provide the full name and a copy of the prospectus.

d. Interest earned on interest bearing accounts shall not be charged as an expense on the account analysis. Confirm acceptance of this condition.

__________ Check here to agree to the above statement.

The District may be required or may desire to open additional accounts, close accounts, or change account types during the contract period. If this occurs, the new accounts and services shall be charged at the same contracted amount or, if unanticipated, at not more than published rates.


2. Automated Cash Management Information The District is interested in automated balance and detail information. Minimum automated services shall include:

prior day summary and detail balance reporting on all accounts intra-day detail and summary balances (on local main and payroll accounts) initiation and monitoring of stop pays positive pay exception transactions initiation and monitoring of internal and wire transfers image access controlled disbursement presentment totals

a. Fully describe the Depository’s on-line service. List the system capabilities (i.e. balance reporting, wires, positive pay, stop pay, etc.).

b. What is the Depository’s back-up process to provide balance reporting and transactions in case of system non-availability?

c. When is daily balance information available?

d. Submit samples of major screens available or provide web link access to a demonstration module.


e. How are individual security sign-ons assigned and who maintains the security module? How many levels of security are available?

f. With regard to controlled disbursements—

-- What is the cutoff time for disbursements?

-- What Federal Reserve location do these accounts clear through?

-- How does the District have access to this information?

3. Deposit Services Standard commercial deposit services are required for all accounts.

The District expects all deposited checks to clear based on the Depository’s current published availability schedule, but any expedited availability options should be noted in the proposal. All cleared deposits received by the Depository's established deadline must be processed for same day ledger credit. Failure to credit District accounts in a timely fashion will require interest payment reimbursement to the District at the then-current effective Fed Funds rate.

a. What is the Depository’s daily cut-off time to assure same day ledger credit?

b. Describe how and when credit/debit advices are sent to the District?

c. What type deposit bags are used/required? Are these available from the Depository?

d. In what city does item processing occur?


Remote DepositThe District is interested in establishing remote check deposit for a few high volume locations during the contract period. These deposits include both consumer and commercial checks.

e. What are the Depository's current capabilities in remote check deposit? Describe how checks are processed and cleared. Please state the cut-off time for same-day ledger credit.

f. Give two comparable references with contact information.

g. Is a daily balancing report produced? Provide a sample.

h. What scanner equipment is required to operate the system? Is this equipment available through the Depository on a purchase or lease basis? Please list the equipment required along with its cost.

4. Standard Disbursing Services The District is interested in positive pay services for designated accounts.

a. Does the Depository image all checks and deposits?

b. Are checks and deposit images available on-line?

c. When?

d. Is a CD provided monthly? If not, are reports downloadable?

e. How long are checks and deposit images maintained on-line?

f. Are all District checks paid without charge upon presentation?



5. Positive Pay The District is interested in positive pay services for designated accounts on which checks are written. The positive pay process should be fully automated and web based. Check information will be transmitted electronically to the Depository on each check run and as manual checks are created.

a. Describe the data transmission/transfer requirements for automated and manual checks.

b. Is input available online for manual checks? If not on-line, how is information on individual manual checks transmitted to the Depository?

c. How can check records be changed or deleted by the District, if necessary?

d. How is the District to be notified of a positive pay exception?

e. At what time is exception information reported to the District? At what time is the deadline for District exception elections? Are images of exceptions available?

f. Are all checks, including those received by the tellers and vault, verified against the positive pay file before processing? How often is teller information updated?

g. Does the Depository offer payroll positive pay?

h. Please provide a copy of the Depository’s file layout format.



6. Account Reconciliation The District anticipates use of partial or full reconciliation services on all accounts in concert with positive pay, dependent upon cost effectiveness.

a. Describe the partial and full reconciliation processes.

b. With what format(s) does the Depository’s system interface? What record formats are required? How is reconciled data sent to the District? When?

c. Specify all reporting alternatives.

d. Are reports available online? How long are reports maintained online? Provide a sample copy of reports.

7. Funds Transfer and Wire Services Incoming wire transfers must receive immediate same day collected credit. Wire initiation should be available online. The District requires that wires be released the same business day if information is provided by the established deadline.

a. Describe the process of online wire initiation. What back-up process is available for the on-line process in case of system unavailability?

b. Is any paper transaction required for transfers or wires as follow-up?

c. How and when will the Depository notify the District of incoming wires? Online? E-mail?

d. Is future dating available for both repetitive and non-repetitive wires and transfers? How far in advance?


e. What is the deadline for initiation-- by telephone?

-- on-line?

f. Are templates available for repetitive transfers?

8. Optical ImagingThe District desires optical images which are downloadable or on CD on all accounts.

a. What items and reports are available on-line (checks, statements, deposit slips, deposited items, etc.)?

b. What items are captured on the monthly CD, if provided?

c. When are the monthly CD or imaged reports available?

d. When and how long are statements and account analyses available on-line?

9. ACH ServicesThe District expects to move toward more ACH transactions for payable and receivable transactions. The District requires a pre-notification (pre-note) on all new transactions.

a. Describe the transmission alternatives for individual ACH transactions. Is the District able to initiate individual ACH transactions on line?

b. What filters and blocks are available on District accounts for ACH transactions?

c. Are ACH addenda shown in their entirety on-line and on reports?


d. What is the Depository’s policy on pre-notification? Is the pre-note charged as a standard ACH transaction?

e. What is the deadline for transmission (hour and day) for a payroll to credit employee accounts on a Friday?

10. Investments and Safekeeping Services The Depository will be required to provide book-entry safekeeping services for any securities owned by the District. All District investments will be made by the District and instructions for clearing and safekeeping will be transmitted to the Depository in writing.

All securities must be cleared on a delivery versus payment (DVP) basis and ownership documented by original clearing confirmations and safe-keeping receipts provided within one business day of the transaction. Funds for investments will be drawn from a designated District DDA account. All P&I payments, coupon payments, and maturities must receive automated same day collected credit on the District designated account without requiring any additional District action.

If the Depository is not a member of the Federal Reserve or a federal home loan bank and utilizes a correspondent bank for safekeeping of District securities, the transactions will be handled through the Depository's systems and shall not require additional interaction by the District with the correspondent bank. No delay in transactions, wires or flow of funds will be acceptable under a correspondent relationship.

a. Is the Depository a member of the Federal Reserve or a federal home loan bank? If not, name the correspondent Depository to be used for clearing and safekeeping. Describe any safekeeping arrangement proposed with a correspondent Depository including processing requirements by the District.

b. Are security transactions available on-line for either origination or monitoring?


c. What is the deadline for settlement instructions on a cash (same day) settlement? Is there any charge incurred for late instructions?

The District may choose to purchase time deposits from the Depository, but all time deposits will be competitively proposed at the time of purchase.

11. Collateral Requirements All the requirements, including those beyond the Public Funds Collateral Act, as stated in the District’s Investment Policy and below, must be met by the Depository. The proposal must state agreement to the following terms and conditions.

All collateral pledged to the District must be held by a custodian or permitted institution as specified by the Public Funds Collateral Act (Texas Government Code, Chapter 2257) [Alternatively, the District may specify any limitations on its preferred custodial arrangement per its Investment Policy.]

A tri-party safekeeping agreement shall be executed between the District, the Depository, and the safekeeping bank for custody of pledged securities in full compliance with FIRREA requiring a Depository resolution. (Or completion of Circular 7 if the Federal Reserve is acting as custodian. Use of the FRB will still require a depository agreement be executed between the District and the Depository.)

All time and demand deposits above FDIC coverage shall be collateralized at a minimum of 102% of principal plus accrued interest at all times (110% on mortgage backed securities.)

The Depository shall be contractually liable for the continuous monitoring and maintaining of collateral at the District's required margin levels.

Pledged collateral shall be evidenced by original safekeeping receipts/report sent directly to the District by the custodian within one business day of receipt.

The District shall receive a monthly report of collateral pledged including description, par, market value and cusip, at a minimum.

Substitution rights shall be granted if the Depository obtains the District’s prior approval and if substituting securities are received before previously pledged securities are removed from safekeeping.

Authorized collateral includes only approved securities as specified by Texas Education Code §45.201 and those allowed under the District's investment policy.

a. Does the Depository propose any collateral charges? If so, under what conditions are they charged and how is the charge applied?


b. What is the Depository’s deadline for requesting collateral in excess of existing requirements?

12. Account Analysis Monthly account analysis reports should be provided for each account and on a consolidated account basis.

a. When is the analysis available each month?

b. Is the account analysis available online? Is it imaged monthly?

c. Are paper statements also sent to the District? If so, when?

d. How long will it take the Depository to correct any billing errors on account analysis?

13. Monthly Statements The Depository must provide monthly account statements on all accounts with complete supporting documentation.

a. State when monthly statements will be available each month.

b. Is the monthly statement available online? If so, when and how long? Are the statements imaged or on a CD?

c. If imaged, are paper statements also sent to the District? If so, when?


14. Overdrafts The depository shall provide overdraft protection on all accounts. There shall be no charge on overdrafts unless the sum of all Iraan-Sheffield ISD accounts turns negative and the District does not respond to the Banks request to turn the sum of all accounts to the positive within two business days of being notified of the deficiency by the Bank. No charges shall apply to the first two business days. The District will work with the Bank and will clear up individual negative balances within a reasonable time period provided that the District has access to assets to transfer to the Bank to clear up negative accounts. The ISISD will work with bank officials to monitor individual balances on a daily basis as needed. The bank should appoint a person who may be easily contacted by District officials to work together to monitor balances.

a. Are all accounts aggregated for overdraft calculation purposes?

b. State the rate basis for intra-day and inter-day overdrafts.

c. What is the policy for daylight overdrafts?

15. Stop Payments An automated stop pay process is desired.

a. What are the time period options available for stop pays?

b. What are the time period options for extended stop pay periods? How is it extended?

c. What is the cut-off hour for same day action on stop pays?

d. Can stop pay orders be initiated on-line? If so, is there any paper follow-up document required?

e. What information on current and expiring stop pays is available on-line?


16. Customer ServiceDoes the Depository offer customer services in languages other than English? What languages are offered?

17. Service EnhancementsBased on the information provided in the RFP and your firm’s knowledge of the public sector, please describe any services or technological enhancements, not previously mentioned, that should be considered for further improving the effectiveness of the District’s treasury management operations.


OPTIONAL SERVICES1. NSF Checks Represented as ACH (RCK)The District may want the option of the second presentment to be made by ACH to targeted dates for maximum collection potential.

a. Is the Depository currently using ACH for collection of NSF checks? How long has the Depository been providing this service? Provide two comparable references with contact information.

b. How are the NSF and the later ACH matched/reconciled? Does the Depository system cross reference the two transactions in any way?

c. Is the NSF information, image, or occurrence available on-line? When and how? How long is it available online?

d. Can the District specify any target pay day(s)?

e. Describe your transmission process. Describe the monitoring and notification process if transmissions fail.

f. Is data imaging available on line? What is available online? When? For how long?

g. Describe the dispute resolution process.

h. Describe your security measures for internet transactions and unauthorized use.


2. Payroll Cards/Debit CardsThe District is exploring the use of stored value cards (payroll card/debit card) as a payroll option for employees at a minimum. Card holders should have the ability to use the cards for purchases at point of sale as a debit card as well as cash withdrawals at financial institutions and ATMs.

The purchasing ability of the cards must be limited to the stored value of the card. The District may choose to not pay for access fees for the employees issued the stored value cards.

The District will be responsible for any marketing of the program and has total discretion on the distribution of the cards. The District will enroll the employees. The Depository is required to provide card holders with all processing and transaction information and reports. Services expected from the Depository would include, at a minimum:

- embossing, encoding and distributing standard cards as directed by District- provision of paper/electronic statements to cardholders - administration of accounts to include maintenance of accounts, application of funds,

authorization of transactions, related tracking- customer service functions

a. Does the Depository currently provide this service? If so, how long has it been available?

b. How many institutions and end customers use the service? Provide three comparable references for the service.

c. Which program (authorization marks) does your program use? (Visa, MC, etc.)

d. Describe the enrollment process. Is enrollment batched and web-based?

e. Describe the manner by which funds will be made available to the card-holders.

f. What are the inactivity levels for the program? Do these generate additional fees? Describe any other potential fees.

g. Are all funding transmissions by standard ACH? Describe the data transmission requirements and deadlines.



3. Purchasing CardsThe District may consider a purchasing card program during the contract period. Cards would be assigned to District employees for defined use.

a. What a card platform does the Depository support (MC, Visa)? Is a third party processor used?

b. What, if any, information is available on-line? When? Describe data download and integration capabilities. Describe reporting capabilities

c. What client support is available? How is it provided?

d. Describe the diverse parameters and restrictions available for the card control. How many access levels are available?

e. Discuss settlement and corporate liability terms. Include information on Depository support for the program, the Depository’s experience, settlement terms on payment, security procedures, and license requirements. How will billing be received?

f. Describe how cards are issued, deleted or replaced. How are lost/stolen cards handled?

g. Provide three comparable references for the service.


4. Company Bank ProgramThe District is interested in giving its employees the opportunity for enhanced, personal banking services.

a. Does the Depository have a banking program available for District employees?

b. List services provided under this program with applicable discounts or fees to the District or employee.

c. Is availability of the program based on use of direct deposit or District employment?

5. Additional Requirements

a. The successful proposer will notify the District in writing within ten (10) days of any changes in Federal or State regulations or laws that would thereafter affect the depository agreement.

b. The bank's records relating to the District's accounts shall be open to review by either the District, its independent auditors and the Central Education Agency without charge.

c. A Texas Education Agency depository contract will be forwarded to the successful proposer along with all necessary documents to complete the agreement as soon as is practical after the Board approves the proposal. The contract is contingent on the fact that the successful bidder will have the contract approved as discussed below.

d. The District reserves the right to exclude direct payroll deposit service from the depository contract and/or to maintain a working balance at another depository in an amount necessary to conduct business. One reason for this would be to have a vehicle available for cash disbursements should the electronic system of the depository be compromised.

e. The language in this document and the depository contract shall take precedence over any other language related to this contract or related agreements presented by the bank.

f. A cashier’s check for $1,000 should be attached to the submitted proposal to cover costs incurred by the District during the proposal process and any costs the District incurs in seeking new proposals should the selected depository submitting the proposal fail in its performance to enter into a contract with the District. Unsuccessful proposals will have the cashier’s check returned after the Iraan-Sheffield ISD Board of Trustees approves the contract. The successful proposals will have the cashier’s check returned after the District’s Board approves the contract, all necessary paperwork is approved, AND the Banks Board or committee approves and documents the contract.

g. The successful proposer will have the agreement and a notarized approval resolution approved by the board of directors of the depository institution or its loan committee, which approval shall be reflected in the minutes of said board or committee, which has been, continuously from the time of its execution, an official record of the depository institution. The Banks Board or committee shall approve the proposal and the resolution shall be returned to the District by July 1, 2011. If the contract is not approved in a timely manner, unless due to unforeseen reasons,


the successful proposer and District agree that the $1,000 cashier’s check is adequate damages for nonperformance and the District may accept an alternate proposal. This obligation may only be extended by the ISISD Superintendent of Schools. District may cancel agreement and contract with second highest proposal if this condition is not completed by depository.

h. Only collateral which can be valued in the Wall Street Journal or a similar publication, or collateral for which the bank can provide verification of value at no charge to the District, will be accepted during the term of the contract.

i. ALL forms that will need to be signed shall be enclosed with the proposal for District review.j. The depository shall provide overdraft protection on all accounts. There shall be no charge on

overdrafts unless the sum of all Iraan-Sheffield ISD accounts turns negative and the District does not respond to the Banks request to turn the sum of all accounts in the positive within two business days of being notified of the deficiency by the Bank. No charge shall apply to the first two days. The District will work with the Bank and will clear up individual negative balances within a reasonable time period provided that the District has access to assets to transfer to the Bank to clear up negative accounts. The ISISD will work with bank officials to monitor individual balances. The bank should appoint a person who may be easily contacted by District officials to work together to monitor balances.

k. Substitution of collateral shall only be allowed with PRIOR District approval.l. Bank shall provide collateral value on monthly basis during the term of this contract and shall

provide documentation of the value of any pledged security. During the periods of January 1 until March 15 (on any given year this contract is valid), bank shall provide value of collateral on a bi-weekly basis if the market value of the collateral has changed downward since the initial report. The bank shall provide collateral value on a DAILY basis if total deposits are within ninety-percent of collateral market value and the market value of the collateral is trending negative.

m. If charges are proposed, any carryover on the account analysis shall apply to the next month with settlement due on the annual August 31 bank statement, unless the District proposes a settle-up at any time.

n. Costs related to any interest account will not be charged in the account analysis unless specifically stated as an exception in this proposal.

o. By submission of proposal, submitter agrees that any litigation related to this proposal, at any time, shall have venue in Pecos County, Texas.

p. Will depository charge employees or vendors WHO DO NOT HAVE AN ACCOUNT at the depository a transaction charge to cash a District check drawn on the depository?

_____ Yes, there will be an additional transaction charge

_____ No, there is no transaction charge to employee or vendor in the event the person or entity DOES NOT bank at the depository.


List of schedules/attachments provided by District:

Copy of District audited financial statements may be accessed from the District web site at:http://isisd.net/Administration/Business/business_office.htm

Attachment A, Volumes for Pricing Transactions

Attachment B, District’s Current Account Structure

Attachment C, District Investment Policy (also available from District web site at: )http://www.tasb.org/policy/pol/private/186903/pol.cfm?DisplayPage=CDA(LEGAL).pdfhttp://www.tasb.org/policy/pol/private/186903/pol.cfm?DisplayPage=CDA(LOCAL).pdf

List of schedules/attachments to be provided by Depository:

The following information must be included with the proposal:

Copy of Depository audited financial statements [or link to web site]

Corporate audited financial statements and the individual Depository’s call report (for members of Depository holding companies) [or link to web site]

UPBR reference

Attachment A, Volumes for Pricing Transactions (filled in with rates)

Sample Account Analysis Statement and User’s Guide (if applicable)

Attachment D, Sample Collateral Agreement (if applicable)

Any agreements (including those not directly referenced in this RFP) which will be required to be executed under the contract (if applicable)

Samples of major screens or web access for automated cash management (if applicable)

Sample daily balancing report for Remote Deposit (if applicable)

Sample account reconciliation reports (if applicable)


Acknowledgements

The Depository confirms that interest earned will not be charged on the account analysis.

If awarded the contract, the Depository will be required to review the then-current District Investment Policy and certify in writing to that review in accordance with the Public Funds Investment Act certifying that the Depository has sufficient controls in place to avoid transactions not authorized by the Policy.

The Depository accepts the investment options and/or collateral conditions as specified in the District’s Investment Policy.

By virtue of the proposal submission, the Proposer acknowledges agreement with and acceptance of all provisions of the specifications except as expressly qualified in the proposal.

Firm: _________________________________________________________________________________

Address: ______________________________________________________________________________

City/State/Zip: _________________________________________________________________________

Phone No: _____________________________________________________________________________

Fax No: _______________________________________________________________________________

Email Address: _________________________________________________________________________

Typed Name: __________________________________________________________________________

Signature:________________________________________________ Date: ______________________

Documents

PROPOSAL FORM - Iraan-Sheffield ISDisisd.net/Administration/Business/2017-2019_Dep/20170208... · Web viewPROPOSAL FORM FOR DEPOSITORY SERVICES BY IRAAN-SHEFFIELD INDEPENDENT SCHOOL